Entrepreneur
Name
Philip
Member since
May 2013
On-time repayments
329 installments • 47%
About Me
I am a Kenyan born citizen, married and residing in kajiado county,kitengela area.
currently am a sales representative at a local bank on contract bases.iam a qualified Certified Public Accountant of Kenya and within a short time i will be graduating with a Bachelor of Commerce from the University of Nairobi.
The reason is statred this business is to supplement my income and also am a result oriented,motivated,ambitious,hardworking and ready to work in a challenging business environment.
i will utilize the funds to increase my stock since my area has potential for business growth and has a ready market for my products.
My Business
I do sell Men smart and casual wears.
There is a ready market for the products since the area is an upcoming middle class suburb kilometers away from the capital city Nairobi.
I prefer this kind of business due to the fast moving products.
The area is vast wide surrounded by the all the major banks,cement factories and also host the headquarters of Export Processing Zone.
The business is profitable although the challenge is that it is on a small scale but worth doing and am taking one step at a time.
Profit and Loss Account
Revenue-Sales(trousers and shoes)
10 @ 700 +6 @1000= ksh 13000
less costs
10 @500 + 6 @ 700 = ksh 9200
miscellaneous = ksh 700
profit = ksh 3100
Loan Proposal
My business is located near four colleges offering different courses and there is huge demand of photocoping,typing,bidding and printing services from the students and my neighbourhood. Thus am planning to expand the business and diversify .
I intend to purchase some computers, scanners and photocopying machine to boost my income
computer -$120
scanner -$150
Photocopying machine-$150
Total -$420
Part of the purchase cost will come from my own personal savings
From the proceeds of the business I will be able to boost my young family income and also provide typing and photocopying services to the community around me.i expect my profit to increase by firstly 35% ,breakeven within 10 months and after that the profit to increase by 70%
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Loan Info
Project Type
Classic Loan
Disbursed amount
$388.00
Date disbursed
Nov 11, 2016
Repayment status
Late
Projected term
52 months
Other loans
Lenders
Jake Gibson and Beverly Picardo
San Francisco, United States
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